Zen Scalper EA is a fully-automated Forex expert advisor that promises to deliver results faster than the competition with zero manual effort from the trader. The developer also claims that the robot is always 100% profitable at the end of each trading day.
To check the veracity of the vendor’s claims, we are going to analyze its various performance aspects like features, live trading statistics, pricing packages, customer support, and user reviews.
Zen Scalper EA company profile
We don’t have background information on the parent company, aside from the fact that they are based in the UK. It is unknown when the company was founded and what kind of trading experience the team has. Also, we don’t know if they have developed other Forex EAs in the past.
The highlights of Zen Scalper EA
This is a fully functional EA capable of instantly executing its orders. It works on both MT4 and MT5 trading platforms and trades in the GBP/USD pair. Zen Scalper EA uses both fixed lots and auto lot management. While using the auto lot option, you can set the risk based on your account balance.
The lot size automatically increases as your account grows, based on the EA settings. On default settings, the maximum drawdown is said to be 35%. If you wish, you can transfer the robot from one account to another by contacting the support team.
The vendor recommends using the EA on the FBS broker for best results. Since this is a scalping EA, you should run it on M15 charts. This is a scalping EA that places multiple trades on a daily basis, trying to take advantage of the small price differences between currency pairs. It is a high-frequency trading strategy that requires regular monitoring.
Facts & figures
To date, the EA has placed 694 trades through this live account, winning 68% of them. In spite of the decent win rate, the account has a time-weighted return of -25.19% and is currently running at a loss of $1746.59. This means it has suffered some heavy losses along the way.
The account has daily and monthly gains of -0.28% and -8.12%, respectively. It has an extremely high drawdown of 92.13%, and this indicates a risky trading strategy. The profit factor for this account is very low at 0.96.
We can see that the EA suffered heavy losses on the 5th of January, 2022. It lost 83.42% of the account with only four trades and it hasn’t been able to recover from these losses since. The average win and loss for this account are 10.31 pips/$92.17 and -15.60 pips/-$207.90, respectively.
Compared to the live statistics, the backtesting results are quite satisfactory. Between December 23, 2020, and October 26, 2021, the EA conducted 2093 trades, winning 65% of them and generating a profit of $24,663.90. The drawdown of 34.28% was much lower in comparison to the live results.
Zen Scalper EA packages
The monthly license of this EA costs $59/month while the lifetime plan costs $249. The prices are pretty standard compared to the market average. There is also a referral license that is free of charge. The vendor offers a 15-days money-back guarantee.
You can contact customer support at the email address provided. Alternatively, you can use the contact form on the website. According to a user on FPA, the support team is kind and polite.
There are only two reviews for this EA on FPA. One of the users has complained about their account getting wiped out while the other one has claimed to have made over 100% in a week.
Is Zen Scalper EA a reliable system?
Zen Scalper EA has failed to perform well in the live market. The pricing plans are affordable but there is a lack of vendor transparency.